Growth rate for Residential Property Value compared to Bureau of Labor Services inflation rate
The graph above shows three indicators: Total Taxable Assessed Value (TTAV) growth rate, Real Residential Property Value (RPR) growth rate, and the Bureau of Labor Statistics Inflation Rate (BLS). To note, values of the TTAV and the RPR are provided by the City. However, values for BLS are provided by a third-party source.
Residential Property Value, Non-Residential Property Value, and Total Taxable Assessed Value
Why do we measure property value growth?
In partnering with citizens and elected and appointed officials to develop long-term and short-term land use and development standards for the community, the success of those standards may be simply judged in the changes in value of property within the city. Good policies and efficient processes should result in an attractive community that encourages investment resulting in increasing property values, recognizing market fluctuations have outside influence.
Creating the Calculation
This goal essentially states that if property value growth is greater than inflation, the City has maintained property values at an appropriate level. For graph and numerical indicator at the top of the page, the following calculation was used: Percentage Pts. = (Property Value Growth Rate - BLS Inflation).
Did you know?
For our calculations of residential property value, we use real residential property value. Real property can be considered property attached directly to the land, the land itself, other buildings and structures, and also the rights and interests of the land. In comparison, the total taxable assessed value is the value of land within the City limits that can be taxed including, but not limited to commercial and residential real/non-real property.
While the major measure shown on this page is for real residential property, the data set connected to this page, contains other valuations of property value in the City of Plano.
Planning Department Homepage: Learn more about Plano's Planning department
City of Plano Comprehensive Plan: Learn about Plano's long-term strategy for maintaining and developing the City's high-standard of living
Plano Tomorrow: Detailed information on the City's vision for future development [currently under development]